Once again, this is video 4 from the CanadianContractor.Ca interview with Mike Holmes. I erroneously assumed that video three was the final installment. Here's the video:
And again, once again, it's time for the Holmes Spot disclaimer... The Holmes Spot is an unofficial fan run blog. All opinions expressed are my own.
Out of all the interviews so far, this one is by far my favorite. I'm kinda glad the third one wasn't the end, because this is where Mike most clearly and concisely dispels many of the myths surrounding much of the criticism he receives.
The interview starts off with the host putting the common conception out there that because Mike does his contracting work on a television show, he's not driven by profit making. In other words, Mike makes his living as a TV star celebrity contractor, and the pressures of having to be a "real" contractor to make a living, with all that entails, isn't as much of a concern. The host says, referring to the last segment of the interview, that under the shadow of trying to do right by the consumer is the day-to-day struggle of trying to stay in business and make a living. "You don't have the same kinds of pressures," the hosts states to Mike. It was very apparent by the look on Mike's face that he was taken aback by those words. After taking a moment to digest what was said, he interrupted, "Wow, I think I even have more pressures." He explains how he has to have a ton of insurance to protect him and his company from sue-happy clients, and how the show, which Mike owns, pays for the jobs, not the television companies. Mike laments how people who beg him for help would have the gall to then threaten suit after all he does for them. Mike then implies that the pressures he faces as a contractor are magnified by having to do them in front of the world on television.
Mike reminded the host that before he was Mike Holmes the television star, he was Mike Holmes the ordinary contractor. He laid out the business model that he used in the days before the TV cameras that made his business successful. First and foremost, he practiced transparency and itemized his services so that his clients could understand exactly what they were paying for. The host interrupted Mike and interjected that by doing that in today's market, the average contractor would place himself as the highest bidder and would most likely price himself right out of the job. Mike disagreed and dispelled yet another myth. He stated that he thinks its funny when people say "If I ever won the lotto, I'd hire Mike Holmes to come fix my house," because it assumes that to get a job done like Mike would do it, you'd have to pay out the wazoo. He puts that myth to bed by implying that he doesn't do what he does because it's the most expensive, he does what he does because it's what should be done in that particular circumstance. (Although, I have to say that I don't think that's what people mean when they make the "If I won the lotto..." comment. I think people mean that it would take quite the pretty penny to entice the busy Mike Holmes to drop what he's doing and come to wherever they are in the world and do work on their home!) Mike explains how he would list the price of everything the client wanted done line by line and item by item. When the client sees the total price, it's not the "most expensive;" rather, it's the price to get the job done, and done right. And if that price is outside of the client's budget, then the homeowner can go line by line and adjust until it fits.
The interview ends abruptly there, with no commentary from the host. Again, I found this segment very interesting. I think Mike did a fantastic job explaining himself and defending how he does business. Looking forward to the next segment (if there is a next segment!).
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